Banc One Capital Markets has hired Rob Cessine for the position of director and senior analyst covering the basic industries and homebuilding sectors. He will also share corporate bond strategy duties at the Chicago-based unit with Dave Novosel, head of credit research. Novosel says Cessine essentially replaces Jeff Cannon, who left for Allstate Corp. earlier this year (BW, 7/27). Cessine declined comment when reached at Banc One. Cannon had covered consumer products, cable and media, though Novosel says Banc One has made some internal changes to shift coverage duties among its analysts.
Cessine last worked as a portfolio manager at the former Zurich Scudder Investments, where he also did research. He left the firm, however, after the assets of the Chicago-based fixed-income team were moved to New York and Philadelphia to be pooled with those of acquirer Deutsche Asset Management (BW, 2/17/02).